American International Group joined a cadre of banks asking a federal court to block a proposed nationwide class-action suit against them over the global insurer’s near-collapse three years ago.

American International Group (AIG), the global insurer that at one point was 92% owned by the U.S. government after a $182 billion bailout, is taking legal action concerning billions of dollars it allegedly lost due to mortgage-related fraud.

American International Group’s Chartis property-casualty business has new leadership and structure as it seeks to align accountability with long-term results.

American International Group Inc. said its property-casualty insurance unit, Chartis, could face more than $1 billion in catastrophic losses from incidents in the first quarter of this year.

American International Group said MetLife agreed to modify their agreement in connection with the sale of American Life Insurance Co. (ALICO) so AIG can sell MetLife equity securities earlier than permitted in the original terms of the sale.

American International Group, the global insurer close to paying back the $182 billion in federal bailout assistance it received, has entered into three bank credit facilities.

American International Group has decreased the money it owes the Federal Reserve Bank of New York by $4 billion and its CEO says he sees “light at the end of the tunnel.”

The Dutch parent company of Transamerica Corp. says this month it will repay 500 million euros ($643 million) of the aid it received from that government in 2008.

MetLife Inc will sell more than $3 billion of stock – or 50% more than it planned – to fund its acquisition of American International Group’s foreign life insurance business of American International Group, according to Reuters.

U.S. Treasury Secretary Timothy Geithner told a congressional oversight group June 22 that the federal bailout of American International Group in 2008 could cost the U.S. taxpayers money.